Applied Materials (AMAT) Downgraded by BidaskClub to “Hold”
BidaskClub downgraded shares of Applied Materials (NASDAQ:AMAT) from a buy rating to a hold rating in a report released on Thursday morning.
AMAT has been the topic of a number of other reports. Vetr upgraded Applied Materials from a hold rating to a buy rating and set a $60.07 target price on the stock in a research report on Monday, November 20th. B. Riley reiterated a buy rating and issued a $63.00 target price on shares of Applied Materials in a research report on Monday, November 13th. JPMorgan Chase & Co. boosted their target price on Applied Materials to $70.00 and gave the stock an overweight rating in a research report on Friday, November 17th. Zacks Investment Research upgraded Applied Materials from a hold rating to a buy rating and set a $64.00 target price on the stock in a research report on Tuesday, November 28th. Finally, Craig Hallum reiterated a buy rating and issued a $76.00 target price (up from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $61.22.
Shares of Applied Materials (AMAT) traded up $0.25 during trading on Thursday, hitting $53.45. The stock had a trading volume of 9,070,000 shares, compared to its average volume of 11,900,000. Applied Materials has a fifty-two week low of $33.09 and a fifty-two week high of $60.89. The stock has a market capitalization of $56,460.00, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.81. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. analysts forecast that Applied Materials will post 4.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Applied Materials’s dividend payout ratio is 12.62%.
In related news, VP Ali Salehpour sold 125,125 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,716 shares of company stock worth $16,218,746. Insiders own 0.31% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LeJeune Puetz Investment Counsel LLC purchased a new stake in Applied Materials during the third quarter worth $105,000. MPS Loria Financial Planners LLC purchased a new stake in Applied Materials during the second quarter worth $109,000. Wunderlich Capital Managemnt lifted its holdings in Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock worth $125,000 after buying an additional 87 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Applied Materials during the second quarter worth $134,000. Finally, First Personal Financial Services lifted its holdings in Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock worth $134,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 79.76% of the company’s stock.
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About Applied Materials
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